OC Oerlikon Sells Barmag to Rieter

In a strategic move, OC Oerlikon is divesting its Barmag textile machinery business for manmade fibers to Rieter, a significant player in the textile machinery sector. The deal, advised by Swiss law firms Homburger and Lenz & Staehelin, sets the enterprise value at CHF 850 million with an additional earn-out potential of up to CHF 100 million. Homburger represents OC Oerlikon, the selling entity, while Lenz & Staehelin advises Rieter, the buyer. This transaction is set against the backdrop of OC Oerlikon's strategy to transform into a pure-play surface technology company, focusing on diverse industries such as automotive, aerospace, and semiconductors. The deal is subject to usual closing conditions, with detailed advisory teams from both firms involved in corporate, tax, competition, and financial aspects. This divestment highlights OC Oerlikon's strategic alignment and repositioning efforts in the global market.